Spring Newsletter

Aloha All,

We thought it was time again for a little update of real estate statistics and happenings on Maui.

Many regions of the US Mainland continue to experience a slow-down although the majority of areas are also seeing modest increases in prices.  The vast majority of economists continue to predict that the market will continue to steadily increase, but at a much more sustainable pace (3% or so).  The really good news is that the FED’s have indicated that there will be no interest rate increases from them for the rest of the year.

Inventory on Maui is still shrinking, and the “Median” Sales Prices increased 4.8% to $712,718 for homes, and increased 13% to $524,500 for condominiums.  On the other hand, the “Average” sales prices for homes decreased 11.1% to $1,001,880 and the average sales price for condos decreased .03% to $693,952.  Less inventory could mean upward pressure on prices in the long run. The reason for this disparity may be found in people more willing to purchase in the lower price ranges.

Luana Garden Villas at Honua Kai pre-sales continue to be strong – over 85% are now under contract.  Kalama Kai in Kihei has broken ground and vertical well building is under way.  D.R. Horton is currently offering new construction homes in Wailuku with some interesting incentives.  They are 2 story, with 3 or 4 bedrooms and priced between $667K-$721K.  We have some exciting listings in Wailea, Kapalua, Kahului, Kihei, Pukalani and Haiku ~ homes, condos and vacant land.  Just to mention a few locations: Wailea’s Best Villa with full garage, a large 4,100 square foot ocean view custom Wailea  home, a totally remodeled ocean view Maui Meadows home with cottage, plus so many more all over the Island.  Be sure to check all the featured listings on our website www.MauiRealEstate.net

Please give us a call for updates for your specific area.  We are here to help.  Following are our numbers.

Clint Hansen, R(B) 808-280-2764

Donna Hansen, R(S) 808-280-1650

Bob Hansen, R(PB)  808-283-9456

The Hansen Ohana

Maui Luxury Real Estate LLC

dad@mauirealestate.net

Open Homes This Weekend

We have three properties open throughout the weekend at various times. Please contact 808-280-1650 for gate access.

Wailea Palms #3603

Open Today 4/20 from 10:00 am to 2:00 pm Wailea Palms #3603! Easily accessible without any stairs sits this single level 2 bd/2ba Villa in a quiet location in the gated community of Wailea Palms Private Residences. Some ocean views! Immaculate! $829K

Kai Malu #49A

Open Saturday 4/21 from 10:00 am to 2:00 pm and Sunday 4/22 from 11:00 am to 3:00 pm 370 Kai Malu! Located at the end of cut-de-sac. Upgraded 3bd/2.5ba, 2 car garage with additional parking for two more cars. Immaculate and ready! Gated with pool, spa, gym, sauna and steam room! $1.310M

3130 N. Noho Loihi Way

Open Sunday 4/22 from 11:00 am to 3:00 pm 3130 N. Noho Loihi Way! Ocean View Wailea Contemporary Plantation designed Smart Home with chef’s kitchen, 2 living rooms, 3 ensuite bedrooms plus den, 4.5 baths, pool, spa & outdoor kitchen! $3.199M

March 2018 Newsletter

The Hansen Ohana Real Estate Group’s March 2018 Newsletter

Don’t forget the popular Wailea Restaurant Week May 20 to May 26.  Not only is it fantastic food at good prices but for a great cause the Maui Food Bank

LATEST REAL ESTATE STATS

Let’s review what happened in the first 2 months of 2018 in the Maui Real Estate Market.

Maui continues to show modest to good gains in real estate values.  Lack of inventory is the number one issue facing Maui today.  This is the same issue for most of the mainland. The average inventory decrease for Maui homes during January and February was 8.3%  for homes and 6.5% for condos.  Pending sales have actually decreased for homes by 11.3%, but increased for condominiums by 26.4%.  This shows the steady decrease of available inventory and increase in demand.  In fact the months supply of inventory of homes for sale for February has decreased over the last 3 years.  2015 was 6.8 months supply, 2016 was 6.5 months and 2017 was 5.5 months supply and now it is 4.6 months.  The supply of Condos went from 8.5 months in 2015 to 5.1 months in 2017, and it remains in February 2018 at 5.1 months.

We continue to see increases in average homes prices over the last year to $1,176,344 (an increase of 14.4%).  There was an increase of average condominium prices over that last full year to $676,501 ( a slight decrease of 2.3%).  Over-all this is more evidence of a continued forecast of upward pressure on real estate prices.  No one knows what will happen in the future, but affordability of homes may be hurt with continued increase in interest rates and home prices.  FNMA and FM loan rates have increased to 4.55% Most savvy investors believe that now is the time to purchase or refinance their property.  Most investors have refinanced already, but there is always demand for Maui property for investment, vacation use or retirement.

As always if you have any questions please email us at dad@mauirealestate.net or call Clint at 808-280-2764 or Bob at 808-283-9456.

In summary, while there is always local and International news that could affect the housing market, Real Estate has historically shown to be a store of value as well as one of the best ways to increase one’s net worth and family security.   The current market appears sustainable into the near future.

WAILEA Updates:

TURTLE TRACKS

Many of us have noticed a new 7 passenger electric cart around Wailea and Kihei.  This is a new transportation service and looks like a lot of fun.  It is nice to know that you don’t have to rent a car to get around Wailea or Kihei.

KEALA O WAILEA

This 70 unit condo project located by the Gateway Center is under construction, with some units completed and receiving occupancy.  Developer units are completely sold out, with the first re-sales starting to come to market.  Call us for prices.

 

SINGLE FAMILY LOTS AT GOLF ESTATES II

This new subdivision will be a part of the Wailea Golf Estates minus some Wailea benefits located  just below the current subdivision.  They anticipate 16 lots of approximately 14,000 generous square feet each, with almost all having either ocean view or golf course frontage.  The infrastructure is complete and sales, while a little slow, are happening.  One developer built home is also currently in progress. Email us with your questions:  dad@MauiRealEstate.net

MAKALI’I O WAILEA

This property is owned by Wailea Golf LLC and is planned to be co-developed by Armstrong Builders.  It is located across the street and up from the Fairmont Kea Lani.  The project is a sharp departure from the typical Wailea look.  The look and feel will be mid-century modern with Hawaiian touches.  There will be 17 buildings of 4 units each in a townhouse style.  Most of the units will have grand ocean views and will be 2 or 3 bedroom homes with a garage. Pre-sales have reached the magic number, with over 80% sold and construction is expected to begin soon.

MAKENA’S DISCOVERY LAND PROJECT

Makena’s Discovery Land gets the green light!  We recently visited the newly approved project Makena Sunset which are now part of the Makena Resort with full club privileges.  There are 3 units available at around $12 million and include 4 bedrooms and a pool.  We feel this is a special project with a fabulous location and ocean views.  Makena Discovery Land will consist of 67 multifamily units: 18 single-family cottages, 26 custom lots, 9 vacation rentals and 14 condominiums. The project also allows for 27,300 square feet of commercial space.  Have questions or interest?  Call us for more information and a private tour:  dad@MauiRealEstate.net 808-280-2764 (Clint) or 808-283-9456 (Bob).

HONUA KAI VILLAS NEW DEVELOPMENT

The opening of offerings of the first release of Luana Garden Villas l at Honua Kai Resort and Spa, located in Kaanapali is happening. There will be 72 three bedroom,  three bathroom Villas with one car garages ~ 4 different floor plans available.  Expressions of Interest are now being taken.  They broke ground in February.  We were impressed with the floor plans, finishes and location. Call us for more details.

MORE INFORMATION

Presently there are a lot of new developments at various price ranges, both residential and commercial, under way in Kihei, Kula, Kahului, Wailuku and West Maui.  If you would like to learn about any of these new, current or future developments, contact us at dad@MauiRealEstate.NET On another note the Wailea Community Association has notary services once again.

Please call us anytime if you or someone you know is considering buying or selling property on Maui.  We look forward to hearing from you.

Warmest Aloha,

Bob, Clint and Donna

Bob Hansen, Realtor® Principal Broker

Clint Hansen, Realtor® Broker-in Charge

Donna D. Hansen, Realtor® (S)

Maui Luxury Real Estate LLC ~ The Hansen Ohana Real Estate Group

Wailea Town Center

161 Wailea Ike Place, Suite A-106

Wailea Hawaii 96753

 

Information herein deemed reliable but not guaranteed and is subject to change.

If your property is presently listed for sale, this is not a solicitation for that listing.

Great Economic News!

Hawaiian Tourism Authority reported the single largest month ever on record in Maui County for January at $548.5 million. That is a whopping 18 percent increase from the same time last year. Increase in visitors from both Coasts of the Mainland as well as Canada helped contribute to the large visitor expenditures.

Maui County’s tourism isn’t the only thing booming. The real estate market is red-hot too! Median home prices rose 1.8 percent to $685,000. Median condo prices also increased from this time last year to $472,500. Up 1.6 percent from the same time last year.

Also pleasing to know, Maui County’s unemployment rate for the end of 2017 was half of what the rest of the nation saw.

Mid-Summer Newsletter

A LITTLE BOASTING FIRST!

We are very proud to announce that Hawaii Business Magazine awarded both Bob and Clint Hansen with the prestigious State of Hawaii Top 100 Realtor designation.  It’s important to note that there are over 10,600   licensed agents in the State of Hawaii and Bob and Clint are the first father and son on Maui to both receive this recognition.  It’s their hard work and dedication that set them apart from so many others.

LATEST REAL ESTATE STATS ~ Semi-annual figures released, Year to Date 2016

Statistics for Maui show the last few years continue to be a stable and orderly market.  Prices have been on the slow, but steady rise since 2011.  At the end of June the median Home sale price was $657,000 which is a nice increase from last year which was $607,000.   The Condo median price increased slightly from $355,000 to $384,000.  The month to month changes can be deceiving as Maui is a small island and the number of sales and sample is small.  A few sales can change the numbers significantly. Days on the market for both condos and homes remain fairly stable at about 4 months.  Days on market generally depend on how well a property is priced, or how is managed you may count with Mavi Unlimited Property Management to help it with it. Over six months on the Maui real estate market is considered to be a Buyer’s market. Under six months on the market is a Seller’s market.

The Global Market is a bit of a mixed bag.  Our Worldwide partner JUWAI reports that Asian housing markets show Hong Kong down almost 10% from last year, while Japan had a 5.5% increase.  Philippine market chats a healthy growth of 3.9%.  The Middle East price increases have slowed but are still showing some increases.  Qatar for instance reported a 9.7% increase compared to last years’ 27.81% increase.  Israel rose 4.52% while Dubai had a decrease of 9.26% (oil prices?)  The United States housing prices grew 4.29% while Canada grew 5.67%.

Summary:   While there is always local and international news that could affect the housing market, Real Estate has been and continues to be a store of value as well as one of the best ways to increase ones net worth and family security.   The current market is sustainable into the future and with the current and continuing low interest rates it continues to be a great time to buy.l and international news that could affect the housing market, Real Estate has been

Great News!  The new Wailea hotel “Wailea Residence Inn” is very close to completion, with the dust fences already removed, and expected to open in August.  Congratulations to RD Olson for a job well-done.

For up-to-date information regarding new projects for workforce housing, affordable housing to very high-end communities throughout Maui and the Hawaii Islands email us at dad@mauirealestate.net.

Behind the scenes, the Hansens work diligently on our marketing efforts utilizing the most effective resources and tools. They are now promoting listings in 3D with the new Matterport system. This cutting-age tool allows buyers to experience fully immersive virtual spaces that feel so real, it’s like being there. The models are easy to share with anyone with a computer or mobile device.

 

Mahalo for your continued support and loyalty!  Bob, Clint and Donna

Bob Hansen, Realtor® Principal Broker

Clint Hansen, Realtor® Broker-in Charge

Donna D. Hansen, Realtor® (S)

Information herein deemed reliable but not guaranteed and is subject to change.  If your property is presently listed for sale, this is not a solicitation for that listing.

Maui Luxury Real Estate LLC

161 Wailea Ike Place, Wailea Town Center Suite A-106